BGC Group Agrees To Buyback Approx. 16.5 Mln Stock From Former CEO Howard Lutnick, Stock Up

(RTTNews) - BGC Group, Inc. (BGC), Monday announced the decision to repurchase around 16.5 million shares at $9.2082 per share from Howard Lutnick, the company's former Chairman and Chief Executive Officer.

The agreement, which amounts to approximately $151.5 million, is made in furtherance of United States Secretary of Commerce Howard Lutnick's U.S. government ethics agreement.

As of May 16, 2025, Lutnick has entered into agreements to forgo all economic benefits in BGC, which includes divesting his ownership, voting, and economic interests in the company.

Additionally, Lutnick has agreed to transfer his ownership interest in Cantor Fitzgerald to trusts for the benefit of the company's CEO Brandon Lutnick, Vice Chairman Kyle Lutnick, and his other adult children.

Currently, BGC is trading at $9.63, up 4.45 percent on the Nasdaq.